The Co-operative Bank current accounts for May 2021
Get worldwide travel insurance, UK and European breakdown cover and phone insurance with The Co-operative Bank's ethical, customer-led approach
With the Co-op’s current accounts, you can get a range of benefits and features while also supporting their ethical approach to banking. Here’s an overview of the current accounts offered.
Types of current account from The Co-operative Bank
Attractive features of The Co-operative’s main current account include monthly rewards via their everyday rewards opt-in, a mobile app and no monthly fee.
The everyday extra account comes with worldwide travel insurance with AXA, UK and European breakdown cover from RAC and mobile phone insurance from Lifestyle Services Group. You’ll need to hold a current account or current account plus with The Co-operative Bank in order to upgrade to this account, and you will need to pay a monthly fee of £15.
This account offers a simplified way of managing funds for those who may not qualify for other accounts. There’s no overdraft facility, cheque book or monthly account fee, ensuring a greater degree of control over your spending. Unless you’re in financial difficulty, you can’t open this account if you already have an account with Co-operative Bank or smile.
The Co-operative bank offers bank accounts specially designed for students. Learn more about its student account offerings.
The benefits of banking with The Co-operative Bank
- Perks. Perks include quick and simple switching with The Co-operative’s current account switch guarantee, no monthly fees, monthly rewards and an ethical approach to banking.
- Multiple ways to bank. The Co-operative Bank offers a range of ways to handle your funds, including a mobile app and a network of branches.
- Global acceptance. If you bank with The Co-operative Bank, you’ll get a Visa Debit card, so you don’t have to worry about card acceptance no matter where you are in the world.
- Round the clock assistance. If you lose your card, or if it’s stolen, you can call The Co-operative Bank 24/7 to get assistance. You can also use the mobile banking app to manage your money round the clock.
Opening an account with The Co-operative Bank
You can apply to open an account either in store or online. Information you’ll need includes how much you earn (including pensions or benefits), any previous addresses from the last three years, the name and address of your employer and your current bank details. Your credit will be checked using a credit reference agency. You should hear a decision about your application within five working days. If you don’t hear from them, you can contact The Co-operative Bank by phone on +44(0)3457 212 212.
Why should I compare current accounts anyway?
In one way or the other, you use your current account every day, often multiple times a day. When you buy your morning coffee, when you plan a holiday, when you pay the rent, when it’s finally payday… the list is endless. It’s a basic financial product, but it’s a very important one, so you should really find something that’s tailored to your needs.
Also, competition between banks is quite harsh these days because current accounts are the most basic way they acquire new customers. They often try to attract them with nice rewards or conspicuous switching incentives, so it’s really worth taking a look at what’s around.
The Co-Operative Bank offers great current accounts if you’re looking to earn rewards for spending with no monthly fees.
Frequently asked questions
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